Aston Villa owners Nassef Sawiris and Wes Edens are set to complete the purchase of a 46 percent stake in Portuguese side Vitória SC.
The agreement was confirmed by the club in an official statement as Sawiris’ V Sports, the holding company of Aston Villa, acquired their share in a deal worth 5.5m Euros.
The step comes as part of V Sports’ plan of global expansion as they set to create a multi-club project with shared scouting networks and youth development strategies.
“Vitória Sport Club has secured an economic partner of enormous importance. The V Sports, owned by Nassef Sawiris and Wes Edens, has already reached an agreement with club’s president, António Miguel Cardoso, for the purchase of 46% of the shares for 5.5 million euros,” the club‘s statement read.
“This deal is pending the approval of the members in the General Assembly, in accordance with the commitment assumed by the President of the Club,“
“As a result of the established pre-agreement, V Sports will provide an additional fee of €2m to be used on improving the club’s infrastructure over the next two years. Moreover, they will give access to a credit line of up to 20 million euros,”
Meanwhile, Sawiris express his delight to have partnered with the Portuguese club confirming that talks have been ongoing for two years.
“V Sports is delighted to be partnering with Vitoria Sport Clube,” Sawiris said in a statement.
“Discussions, which have been ongoing for almost two years, have progressed thanks to the positive steps taken by the new management team led by Antonio Miguel Cardoso whose energy and vision has been a crucial component in reaching this agreement.”
Vitória SC are one of the well-established clubs in Portugal, with the club finishing third in the Primeira Liga on four occasions, in addition to winning Portugal Cup in 2013.
They are currently fifth in Primeira Liga with 33 points, and are managed by the 41-year-old Moreno.
Sawiris purchased Aston Villa in the summer of 2018 as his heavy investment paid off in securing Aston Villa’s status as a top-half English Premier League side.
1 Comment